Chapter 8-11 (Macro & Economic Growth)
0.0(0)
Studied by 0 people
Learn
Practice Test
Spaced Repetition
Match
FlashcardsCard Sorting
1/13
There's no tags or description
Looks like no tags are added yet.
Study Analytics
Name | Mastery | Learn | Test | Matching | Spaced |
|---|
No study sessions yet.
14 Terms
1
New cards
Aggregate Demand (AD) (definition)
The total demand by households, firms, government and foreign sectors for the final goods and services that is domestically produced in the economy at various price levels
2
New cards
Aggregate Supply (AS) (definition)
The total output that firms in the economy are willing and able to supply at different price levels in a given time period
3
New cards
What propensities is k equal to? (formulae)
k = 1/MPW = 1/1-MPC = 1/MPT + MPM + MPS
4
New cards
(Template definition) Marginal propensity to x (MPx)
Measures the change in x due to a change in national income
5
New cards
6
New cards
7
New cards
8
New cards
9
New cards
10
New cards
11
New cards
12
New cards
13
New cards
14
New cards
Note 
Flashcards (22)